The power of influencer marketing and how to utilise it effectively
Ten years ago, only A-list superstars could sway consumer opinion. Since everyone can now become an influencer, brands have additional options to connect with their target audience. You hardly ever scroll through your preferred social media site without coming across an influencer marketing tactic. As a company, creating a focused influencer marketing strategy is a terrific way to reach your target demographic, enhance brand awareness, buy consideration, and draw in new clients.
It’s understandable why influencer marketing has become so popular in recent years. Influencer marketing is deemed a practical technique by 84% of marketers, and it is predicted to grow into a $15 billion business by 2022, according to a survey by Influencer Marketing Hub.
What is influencer marketing?
Influencer marketing partners with influential people in a particular industry to promote a brand or product. They can be celebrities, industry experts, or social media personalities with a large following. By leveraging the influence and credibility of these individuals, businesses can effectively promote their products or services to a targeted audience.
One of the main reasons influencer marketing is so effective is because it allows businesses to tap into the trust and loyalty that they have built with their followers. In today’s world of endless advertising and marketing messages, it can be difficult for businesses to cut through the noise and get their message heard. But when a trusted influencer endorses a product or service, their followers are likelier to listen and consider purchasing.
Another advantage of this approach is that it allows businesses to reach a specific target audience. Many influencers have a highly engaged and loyal following, and by partnering with an influencer who aligns with your brand and target audience, you can effectively reach a niche market.
The state of the influencer marketing industry
In 2014, when Instagram introduced ads to the platform, standing out on the social media network was much simpler than it is today. Then, you needed high-quality pictures to be featured on the feature page.
If you still think influencer marketing is a trend, consider these numbers:
- 51% of marketers say influencers help obtain more quality customers
- 71% of businesses plan to increase their influencer budget within the next year
- 42% of people use ad-blocking technology to remove interruptive digital ads from the online experience, making sponsored content and other native ads more effective
- 89% of companies say influencer marketing ROI is comparable to or better than other channels
How do you go about utilizing influencer marketing effectively? Here are a few tips to consider:
1. Conduct research
Not all influencers are created equal, and you must do your due diligence before partnering with one. Look for professionals with a genuine following and a track record of successfully promoting products or services. You’ll also want to consider their overall brand and image and ensure it aligns with your own.
2. Set clear goals and objectives
Before you begin working with influencers, you must clearly know what you hope to achieve. Do you want to increase brand awareness? Drive sales? Improve customer loyalty? Having specific, measurable goals will help you determine the success of your influencer marketing efforts.
3. Be authentic
Authenticity is vital when it comes to influencer marketing. Your audience can tell when an influencer is promoting something they don’t believe in, which can backfire on your brand. Ensure you’re partnering with influencers who genuinely love and believe in your product or service and encourage them to be transparent about their relationship with your brand.
4. Don’t be picky
While partnering with a single influencer can be effective, using a combination of influencers can help you reach a wider audience and give your brand more credibility. Consider partnering with micro-influencers (those with a more minor but highly engaged following) and more well-known influencers.
5. Monitor and measure your results
As with any marketing effort, it’s essential to track your results and measure the success of your influencer marketing campaigns. Use tools like Google Analytics and social media analytics to see how your campaigns perform and adjust as needed.
In conclusion, influencer marketing can be a powerful tool for businesses looking to reach a targeted audience and build credibility. By doing your research, setting clear goals, being authentic, and collaborating with different groups, you can effectively leverage the power of influencer marketing to achieve your business objectives.
By: Nikhil Varma